The US and China have been the top source countries for launching external cyber attacks. They together contribute more than half of the cyber attack sources. Other Bric countries (Brazil, Russia an India) also are amongst top sources of external cyber attacks in the region. About 40 external cyber attacks took place per month in the Middle East.One third of all cyber attacks last year targeted the ATM and internet banking applications in Dubai.

Breaching securityPaladion data shows that the bigger the companies, more the number of attempts to breach their security infrastructure.

The automatic money transfer [ATM] system attacks, which allows cybercriminals to breach new bank security measures and clean out a victim’s bank account without leaving signs of criminal activity, are of particular concern because they circumvent traditional and even enhanced online banking security measures. Users should update endpoint security systems frequently to prevent chances of attacks.

More than 51% of the security alerts were directed at organizations with revenue greater than $1 billion (Dh3.67 billion) while 27% were directed at organizations with revenue between $500 million-$999 million. Of the 13,400 phishing attacks handled by Paladion last year, an average of 600 attacks was targeted at banks. Attacks in 2011 have been lesser in number than in 2010, and it has been decreasing further over the past few months. But, there has been a small increase in phishing incidents in smaller banks, going up from 15% to 20% in 2011. And the US remained the most preferred destination to host phishing sites in 2011.

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ATM's and online banking are only hazardous if your bank isn't using the latest authentication technology. This technology is being implemented by two banks in the U.S and one in Hong Kong, and is being evaluated by a European bank, in the wake of the report which stated that ATM crime is up 63% in Europe.
Basically, it means that the following security scenario is no longer a problem:
Your ATM card is stolen, on the back of which you have written your PIN number. Together with this, they stole the piece of paper, on which you wrote your User ID and password.
To make things worse, a spy camera watched your last access.
Ordinarily, this would not be a Good Situation. However, if your bank is incorporating the authentication method shown at
www.designsim.com.au , there is no way the thieves can access your accounts.
The site features a fraudproof ATM and online trading application on the demo pages.
Worth a look?

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